SMP 146: How Erthos is revolutionizing Utility Scale Solar Construction?

Solar Maverick Podcast

Episode Summary

In this episode of the Solar Maverick Podcast, Benoy speaks with Albie Fong who is the Sr. Director of Business Development at Erthos. Erthos offers a full suite of products and services aimed at helping developers dramatically reduce the levelized cost of energy (“LCOE”) on utility-scale solar power plants.

Albie discusses how Erthos innovates utility solar construction, how the company has gotten investors comfortable with their new innovative technology, and Albie speaks about the book that he wrote about Solar Project Development.

Benoy Thanjan

Benoy Thanjan is the Founder and CEO of Reneu Energy and he is also an advisor for several solar startup companies. He has extensive project origination, development, and financial experience in the renewable energy industry and in the environmental commodities market.

This includes initial site evaluation, permitting, financing, sourcing equipment, and negotiating the long-term energy and environmental commodities off-take agreements. He manages due diligence processes on land, permitting, and utility interconnection and is in charge of financing and structuring through Note to Proceed (“NTP”) to Commercial Operation Date (“COD”). Benoy composes teams suitable for all project development and construction tasks. He is also involved in project planning and pipeline financial modeling. He has been part of all sides of the transaction and this allows him to provide unique perspectives and value. Benoy has extensive experience in financial engineering to make solar projects profitable.

Before founding Reneu Energy, he was the Environmental Commodities Trader in the Project Finance Group for SolarCity which merged with Tesla in 2016. He originated SREC trades with buyers and co-developed their SREC monetization and hedging strategy with the senior management of Tesla to move into the east coast markets.

Benoy was the Vice President at Vanguard Energy Partners which is a national solar installer where he focused on project finance solutions for commercial scale solar projects. He also worked for Ridgewood Renewable Power, a private equity fund, where he analyzed potential investments in renewable energy projects and worked on maximizing the financial return of the projects in the portfolio. Benoy also worked on the sale of all of the renewable energy projects in Ridgewood’s portfolio.

He was in the Energy Structured Finance practice for Deloitte & Touche and in Financial Advisory Services practice at Ernst & Young. Benoy received his first experience in Finance as an intern at D.E. Shaw & Co., which is a global investment firm with 37 billion dollars in investment capital. He has a MBA in Finance from Rutgers University and a BS in Finance and Economics from the Stern School of Business at New York University. Benoy was an Alumni Scholar at the Stern School of Business.

Albie Fong

Albie Fong is the Sr. Director of Business Development at Erthos. He has over 16 years in the solar industry. He has worked at Idemitsu Renewables, Solar Frontier, Cogenra Solar, Talesun Solar, and Albiasa.

Solar Project Development Book discussed on the podcast written by Albie Fong.

Project Development in the Solar Industry by Albie Fong (Editor), Jesse Tippett (Editor)

Below is the Amazon Link.

https://www.amazon.com/Project-Development-Solar-Industry-Albie/dp/0367576619/ref=sr_1_5?crid=36MI64HYLEMYV&keywords=solar+project+development&qid=1687177550&sprefix=solar+project+development%2Caps%2C143&sr=8-5&ufe=app_do%3Aamzn1.fos.18630bbb-fcbb-42f8-9767-857e17e03685

Stay connected:

Benoy Thanjan

Website: www.reneuenergy.com

Email: [e-mail]

LinkedIn: Benoy Thanjan

Facebook: Reneu Energy

Albie Fong

Website: www.erthos.com

Linkedin: https://www.linkedin.com/in/albiefong/

Email: [e-mail]

Reneu Energy and the Solar Maverick Podcast Holiday Fundraiser and Networking Event on Tuesday, December 5th, 2023 from 6pm to 10pm at Hudson Hall in Jersey City, NJ.

It is $64 to attend. Part of the Admission Fee goes to two charities that we are fundraising at the event and covering our expenses for the event. Appetizers will be served and make sure to come hungry.

At our last two events, we raised $1,450 for the Boys & Girls Club and $1,450 for Let's Share the Sun Foundation. We are raising money for both charities at this event.

The eventbrite link is listed below.

https://www.eventbrite.com/e/reneu-energy-solar-maverick-podcast-holiday-fundraiser-networking-event-tickets-739318971947?aff=oddtdtcreator

If you are interested in sponsoring the event, please email Reneu Energy at [e-mail].

PROMO Code MAVERICK to attend the New York Solar Summit for 15% discount

The New York Solar Summit is coming up on November 9th in Albany, NY which is a great event about the NY Solar and Storage Market organized by New York Solar Energy Industries Association (NYSEIA). Reneu Energy is a member of NYSEIA and our CEO Benoy Thanjan has spoken at past New York Solar Summits.

New York leads the clean energy revolution with ambitious distributed solar and storage goals as part of its historic climate legislation that was passed in 2019. The recent passage of the Inflation Reduction Act helps to bring these goals within reach, and clean energy leaders are gathering on November 9th to discuss the necessary solutions to challenges along the way.

When you register for the New York Solar Summit, you will be joining over 600 clean energy leaders for ample networking and learning opportunities, expert panel discussions, and a trade show filled with leading clean energy companies! Plus, we have exciting keynote addresses from Doreen Harris, CEO and President of NYSERDA, and Jigar Shah, Director of Loans Programs at the U.S. Department of Energy.

Don’t miss the New York Solar Summit, hosted by New York Solar Energy Industries Association and presented by NYSERDA, on November 9th at the Albany Capital Center! Visit www.nyseia.org for more information and register today. Register using the promo code MAVERICK for a 15% discount on tickets and hope to see you there!

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This episode was produced and managed by Podcast Laundry.